AIMCo invests in Northern Courier Pipeline

Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, has announced that it has entered into an agreement to acquire an 85 per cent equity interest in Northern Courier Pipeline from TC Energy Corporation.

The agreement represents a rare opportunity for AIMCo's clients to invest into a strategic oilsands pipeline with fully contracted, long-term cash flows. The 90 kilometre Northern Courier Pipeline system was completed in 2017 and transports bitumen and diluent between the Fort Hills mine site and Suncor Energy's terminal located north of Fort McMurray, Alberta.

Following the closing of the transaction, TC Energy will hold a 15 per cent aggregate interest in Northern Courier Pipeline and will remain the operator of the pipeline.